Precious Metals Preview: COMEX gold and silver pause decline as dollar demand wanes
COMEX gold and silver were relatively steady on Friday morning in Asia as dollar demand dampened on expectations that US and Iran will continue peace negotiations despite a recent escalation . Nevertheless, escalating tensions between the US and Iran could drive crude oil prices higher, stoking inflation fears and forcing the Federal Reserve (Fed) to maintain its higher-for-longer rate stance. The dollar index slipped under 100.50 mark. The recent minutes from the Fed's June meeting, reflected a divided central bank not sure how to proceed on rates without more information on inflation. Meanwhile, the yellow metal is holding at $4135.30 an ounce and silver is up 0.28% at $60.92 per ounce.
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